Money Laundering. Literally.

Learning Quote of the Day: “In the depth of winter I finally learned that there was in me an invincible summer.” – Albert Camus (philosopher)

Did’ja Know: As a germaphobe I enjoyed seeing an interview last year with Howie Mandel who mentioned that his wife washes his money to clean it. But did’ja know that his wife would’ve enjoyed living in 1916 where people would regularly get their money laundered for free! If your money was in good enough shape you could take it to Washington DC where the Office of Currency Standards would wash, iron, and reissue the money. That Mortgage Fans, is money laundering at its finest.

World Rates: China’s central bank raised rates for the 3rd time in 4 months to help ward off inflation. Other emerging economies seem to be taking notice as experts expect Brazil’s central bank to raise rates also. Brazil’s overnight lending rate is already at 11.25%. Who’s not getting a Brazilian anytime soon? That would be our Fed Chief Ben Bernanke who has our overnight lending rate near zero and continues to add stimulus to our economy by buying treasuries. No panic about inflation from him… yet… but many think he will raise rates before December.

Interest Rate Update: Rates climbed above 5% last week for the first time in almost a year. The 30-year fixed remains at 5.0% and ARMs about a point lower. As usual rates can vary based on type of home, equity in the home, credit score, and if The Bachelor picks the wrong woman in the rose ceremony.

Learning Quote of the Day 2: “I like to watch Girls Gone Wild backwards because then it looks like the girls have learned their lesson.” – Dave Attell (comedian)

Timeout for Trivia: Congrats to all of you who correctly guessed Paula Abdul as last week’s answer. Want to be entered into a drawing to win a sculpture of Paula Abdul that I made entirely out of BBQ flavored Fritos and Elmer’s Glue? Simply email me the answer to this week’s Who Am I? question. Good luck: “ In two days I turn 43. Sometimes you can blame an actor’s downfall to making bad choices – like when I passed on the lead roles for Pretty Woman and Ghost, or letting my grandmother feel me up, or when I gave my panties to a friend. Why don’t I get the big parts now? Don’t people know I’m talented? Haven’t they seen what I can do with lipstick?”